Most agents treat every client as a single transaction. One commission, one goodbye, and a calendar that starts from zero every month. A smaller group of agents built something sturdier: a business around investors who buy, hold, manage, sell, and introduce other investors. At Cunningham Group in Las Vegas that model supports more than 260 doors under management and roughly 30 to 40 investment sales a year, and it is a playbook another agent can copy.

Ask a room of agents how many closed a deal last year for a client they will probably never hear from again, and most hands go up. That is the general buyer and seller model, and it is a treadmill. Every month starts from zero, the service is easy to price-shop, and the relationship ends when the keys change hands.

The most common mistake agents make is thinking they have to find investors. You know dozens already. You have simply been treating them like retail buyers. Pull every past client who bought a second home, asked about Airbnb, mentioned a rental, or ever said the words cash flow. Search your notes and old emails for investing, short-term rental, rental property and 1031. The list is usually longer than you expect.

When you can talk fluently about cash-on-cash return and cap rate, an investor stops seeing you as just an agent. You do not need to be an accountant. You need four numbers, defined simply, used consistently. Annual cash flow divided by the cash invested. It answers the question investors ask most: what do I earn on the money I actually put in? It is the number they live by.

Here is the difference between an agent and an advisor. The agent sends a link to a listing. The advisor sends a page that says what the property is likely to earn, what it will cost to operate, and what the investor should expect to make on the cash they put in. The example above is illustrative, not a specific listing. Plug in real numbers for every deal.

A great pro forma on a short-term rental that is not legal is worthless. Your credibility with an investor is the asset you are protecting, and the fastest way to lose it is to sell a deal the city shuts down. Regulation is the biggest threat, but not the only one. Seasonality and over-leverage are the others. Model a slow season.

Most agents think of Airbnb when an investor says rental. The agents who have been at it longer know the mid-term rental is where you dodge many regulatory fights and cut operational chaos. It is the quiet edge inside the investor niche. A furnished home rented for 30 nights or longer. The stay is longer than a vacation and shorter than a standard lease, which changes everything about the operation.

A retail deal ends at the closing table. An investor deal starts a stream of recurring work. The agent who captures that stream builds a different kind of business than the one who hands the client off at closing. You can still keep the relationship. Partner with a manager you trust and earn a referral on the management, while staying the investor’s point of contact.

The 260 doors we manage did not come from 260 strangers. They came from a much smaller core of investors who kept buying and kept referring. That is the difference between a hustle and a business. Proactive beats reactive. A quarterly portfolio review, with numbers, shows the investor you are paying attention. Bring the next opportunity, too. If you show up with the next deal before they think to look, you stay first in line.

The investor niche makes the money. Systems and people make it durable, and make it yours to walk away from. That part took years and a lot of documentation, so be skeptical of anyone who calls it easy. Our team is globally distributed and runs guest services, bookkeeping and coordination. The result is that the business keeps running when the owner travels three to four months of the year.

Walking into a call already knowing the property changes the conversation. We pull the listing and score it on six dimensions, from A to F. The goal is to know whether this is a strong property that is being under-managed, which is an easy win, or a property with real underlying problems, which means setting expectations early.

Inspiration fades by Tuesday. A sequence does not. If you want to build an investor business, here is a three-phase plan that fits around a full calendar. Build the pro forma template and send it to ten past clients. Everything else follows from the conversations that start. The whole approach is laid out in The Investor Playbook.

It’s a good time to give some perspective on the real estate market now that we have a few months of data available on the trends. During the last major recession we saw home prices drop off a cliff in Las Vegas, with some zip codes declining as much as 90% from the peaks. We also saw an explosion of inventory with more than 25,000 homes available in Las Vegas at the market’s low point.

I wanted to share a contribution if it's helpful at all... With the exception of property marketing (through homesnap which is generate a lot of activity but questionable quality so far), I have discontinued all other marketing and refocused solely on the following: 1) Calls to everyone in my Winning Team database (past clients who are still on board, referring agents, etc) just to listen.Sometimes I've had pretty good advice…

Market inventory has begun to slip downward as we start of 2020 hot. The inventory of homes is down to 52.2 days - the lower than at any point in 2019 and the lowest level overall since September 2018. This indicates prices are likely to begin to rise and days on market will begin to shorten. Of course it's still early in the year and things could change, but the trends appear to be towards a stronger seller's market.

What do you think?How has the abundance of information available today affected your business and do you think you’re adjusting well to it? On yesterday’s bog, I outlined my belief that we are well passed the “technology age” and those who still think that are stuck in the 90s.It’s now the Age of Way-Too-Much-Information, and as REALTORS, this era can be challenging, but I believe there are far more opportunities for us than…

I often attend conferences and meetings where “technology” is still discussed as some sort of obstacle or challenge to understand in the real estate industry. Every time I see or hear the topic of technology I cringe, because it reminds me how much of our industry is still living in 1990s paradigms.

I am coming up on 15 years as a REALTOR and one of the things experience has given me is a perspective on other agents. I have found the vast majority of REALTORS struggle with controlling their clients. Why is this? I long assumed it was just because most agents are so desperate for a sale that they prefer to avoid telling the client anything they don’t want to hear. Recently I’ve come to realize that assumption was flawed.

Thanksgiving is over but that doesn't mean we can't show gratitude to our clients. While reading Silvia Duke's post, she wrote something that stood out to me: "A few years ago, I received a note from another agent after a completed transaction with a small gift card for coffee.

I've been a REALTOR® for nearly 15 years, and in Las Vegas, that means about 10 years in a seller’s market and 5 years in a buyer’s market during the recession years. IN other words, it’s almost always a seller’s market in Vegas, and that means a continual challenge which is appraisal issues. Right now as the market has been hot, this issue takes center stage again. I always like to explain it to clients this way... A.